PBOC keeps one-year medium-term lending facility rate steady at 2.5% to aid economic recovery

seekingalpha04-15

People’s Bank of China kept the rate on CNY 100 billion worth of one-year policy loans to some financial institutions, known as the medium-term lending facility rate at 2.5% during its April fixing, ...

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With CNY 170 billion worth of MLF loans set to expire this month, the central bank drained a net CNY 70 billion of cash from the banking system, the second straight month of withdrawals.  The move comes amid efforts to prioritize the stability of the yuan, at a time the local currency is facing renewed depreciation pressure.  The decision to hold policy rates and drain liquidity comes after recent outlook for China. ETFs: , , , , , , , , , , , , , , , , , . 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With CNY 170 billion worth of MLF loans set to expire this month, the central bank drained a net CNY 70 billion of cash from the banking system, the second straight month of withdrawals.  The move comes amid efforts to prioritize the stability of the yuan, at a time the local currency is facing renewed depreciation pressure.  The decision to hold policy rates and drain liquidity comes after recent outlook for China. ETFs: (FXI), (KWEB), (CQQQ), (MCHI), (ASHR), (YINN), (TDF), (CHIQ), (GXC), (EWH), (KBA), (YANG), (CXSE), (CAF), (CWEB), (PGJ), (KURE), (CHIX). Currency: (CNY:USD) More on China  China's trade surplus smaller than expected as exports drop more than imports China's inflation rate rises at a slower pace than expected China's NBS manufacturing PMI returns to expansion; services growth at 9-month high Fitch cuts China's credit outlook to negative on public finance risks Yellen calls on China to shift policy as U.S. won't accept flood of cheap imports again","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2427256870"}